According to the latest data released by ADS, the trade organisation representing the aerospace sector, so far this year, 315 global aircraft orders have been placed, with 39 orders placed in April 2023. Despite confirmed orders for aircraft being lower than April 2022, orders for wide-body aircraft have increased, with 102 orders placed in year-to-date, indicating renewed confidence in the return of long-haul international travel.
Following 80 global aircraft deliveries in April 2023, the year-to-date deliveries total 337 aircraft in the first four months of the year, the highest for global aircraft deliveries in that time since 2019, showcasing the sector’s continued recovery from the impacts of the Covid-19 pandemic.
The backlog of aircraft orders is 13,401 aircraft, a positive marker for the health of the sector, and in the coming years, the backlog could be worth up to £200bn in approximate value to the UK aerospace sector.
The latest figures published by ADS Group showcase exports from the UK aerospace sector being worth £18.6bn in 2022. It further highlights that the UK’s aerospace sector is a hub for advanced manufacturing, supporting well-paid jobs across the country and driving decarbonisation through innovation, generating £27bn in turnover, with value add to the UK economy worth £10.9bn.
Aimie Stone, chief economist at ADS Group, said: “April 2023 aircraft order and delivery figures remain in line with our expectations that aerospace manufacturing will not reach post-pandemic levels until 2024. One of the biggest issues affecting the aerospace sector’s supply chain is a shortage of labour and skills. Despite sentiment and outlook across the aerospace sector remaining positive, it is essential these shortages are addressed to ensure the success of industries’ long-term plans and activities.”
ADS’ Aerospace Outlook further showcases that 90 per cent of the 108,000 jobs in the aerospace sector are located outside of London and the Southeast. In addition, with £101,000 output per worker, aerospace sector productivity is 56 per cent higher than the economy average, delivering strategic advantage for the UK.
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